In a significant boost to the government’s finances, Ghana’s Treasury Bill auction has recorded a massive oversubscription of 61.94%, with the government raising GHC12.8 billion. The successful auction has sent a positive signal to investors and economists alike, indicating strong confidence in the country’s financial instruments.
According to the Bank of Ghana, the government targeted GHC7.9 billion from the 91-day and 182-day Treasury Bills, but received bids totaling GHC12.8 billion. The 91-day bill attracted an interest rate of 29.85%, while the 182-day bill fetched a rate of 31.49%.
The oversubscription is a testament to Ghana’s growing financial market and investors’ appetite for the country’s debt instruments. “The government remains committed to meeting its financing needs through the domestic market,” said a Treasury official.
The government has been actively using the domestic market to finance its activities, and this latest development is expected to boost its efforts. The raised amount will be used to support the government’s budget and other development projects.
Ghana’s Treasury Bills have been a popular investment choice for both local and foreign investors, offering attractive returns in a relatively stable economy. The country’s financial market has shown resilience despite global economic uncertainties.
The success of this auction is expected to have a positive impact on Ghana’s financial landscape, reinforcing investor confidence in the country’s economy.
Call or WhatsApp +233 20 2190 250 and share your story.
Author: Korkor Anumu
